Wave of Discord Hacks Is Making the Crypto Crash More Painful for Investors

Virtually all cryptocurrencies have been crashing for at least a month.and it keeps getting worse. This has led to major cryptocurrency companies Crypto.com, Gemini and Coinbase lay off between 5 percent, 10 percent, and 18 percent of its staff, respectively. But there is one group that continues to thrive in the crypto world: Discord hackers.

In the first two weeks of June alone, hackers have compromised dozens of Discord servers, seven of which occurred in the last three days alone. A blockchain analyst recorded 41 attacks that occurred between June 1 and 10, and the popular “web 3 is doing greatChronicling hacks, scams, lawsuits, and other bad news in the crypto world, the project recounted several more recent breaches. (Motherboard confirmed a sample of 24 of these hacks.)

Among the hacked Discords were popular NFT projects like the Bored Monkeys Yacht Club, Cats’ journey to Mars, known originand Homeless Friends.

Even as cryptocurrencies crash and money circulating throughout the ecosystem is slowing down, there is still something to steal, which explains why hackers haven’t stopped during the so-called “crypto winter.” Targeting Discord Servers and Channels it’s also a great way for hackers to simultaneously target thousands of people that have cryptocurrencies and NFTs.

Hackers usually take over admin accounts and post an ad with a malicious link, or use the admin account to send similar ads using bots controlled by admins. In both cases, from the users’ perspective, these are messages coming from people or bots that are part of the daily routine of the Discord server, which makes them trustworthy. And that is why they are so successful.

Hackers can also target multiple servers at the same time by compromising bots that use multiple crypto projects. In May, during another series of hacks targeting Discord servers of NFT projectshackers were able to access multiple projects at the same time by taking control of the MEE6 Discord bot, a tool that helps Discord server owners automate welcome messages, announcements and other events.

At that time, the The MEE6 Twitter account said that the root cause of the attacks was that one of their employees was hacked.

Do you have information about hacking groups targeting Discord servers? Or do you know other web3 and crypto hacks? We would love to hear from you. You can contact Lorenzo Franceschi-Bicchierai securely on Signal at +1 917 257 1382, Wickr/Telegram/Wire @lorenzofb, or email lorenzofb@vice.com

It is unclear whether the recent series of hacked Discord servers was also done by compromising a bot used by different projects or by targeting individual projects, or a combination of both strategies.

Discord did not immediately respond to a request for comment.

Finally, as Motherboard reported in late MayThese attacks happen because Discord was never built for users and servers that required a high level of security.

“[Discord] it’s not built with the idea of ​​enshrining secure communications, it’s not built with total privacy in mind. It is not built with the idea of ​​being very focused almost [Advanced Persistent Threat] level attackers. Some of these scam groups must have dozens or hundreds of employees in them,” Mitchell Amador, CEO of blockchain security firm Immunefi, previously told Motherboard. “They are effective corporations that are professional and dedicated to achieving these results. And they’re just taking Discord by storm. It was never built to protect against such a dedicated attacker targeting such a wide swath of accounts.”

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